On Oct. 4, SBA reported LOU businesses eligible for disaster loans.
SBA reportedEconomic injury disaster loans (EIDLS) for Louisiana small businesses.
Small non-farm businesses in 19 Louisiana parishes, neighboring counties in ARK are eligible to apply for low interest federal disaster loans, due to drought starting Sep. 19.
Qualifying Businesses
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify.
Businesses primarily engaged in farming or ranching are not eligible for disaster loans.
Loan Provisions
EIDLs of up to $2 million assist to meet financial obligations and operating expenses.
Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement; repayment begins 12 mos. from the date of the first disbursement.
Application Deadline
The deadline to apply for economic injury is May 28, 2024.
